Major South Korean bank Hana Financial Group (KEB Hana Bank) is in the process of setting up its own ‘taskforce team’ (TFT) to investigate future joint projects with North Korea, NK News confirmed on Monday.

In news first reported by the South’s Yonhap News Agency, KEB Hana’s TFT is set to begin work “as early as this month” and may seek outside help running the group after an initial period.

A spokesperson for KEB Hana Bank declined to provide additional details regarding the group’s makeup or schedule, but confirmed to NK News that the TFT will begin work soon.

The news comes